USD 8.74 billion
Hyaluronic Acid Market Size, Share, Growth Analysis, By Application(Dermal Fillers, Osteoarthritis, Ophthalmic, Vesicoureteral Reflux), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2361 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|Tables:
37
|Figures:
74
Hyaluronic Acid Market Insights
Hyaluronic Acid Market size was valued at USD 8.74 billion in 2022 and is poised to grow from USD 9.4 billion in 2023 to USD 16.8 billion by 2031, growing at a CAGR of 7.58% in the forecast period (2024-2031).
Pollution and tobacco consumption with an unhealthy lifestyle can all diminish the amount of hyaluronic acid in human skin. Proper use of hyaluronic acid-based supplements and serums aids in prevention and skin improvement. The growing preference for marginally invasive procedures, as well as the desire for speedier outcomes, are projected to drive market expansion in the future years. The aging population, the introduction of cost-effective treatments and goods, and technological advancements are some of the causes driving the hyaluronic acid industry's growth.
US Hyaluronic Acid Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Osteoarthritis
Fastest Growth
Osteoarthritis
Growth Rate
7.58% CAGR
Global Hyaluronic Acid Market ($ Bn)
Country Share for North America Region (%)
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Hyaluronic Acid Market Segmental Analysis
Hyaluronic Acid Marketis segmented on the basis of application and region. Based on application, the Hyaluronic Acid Market is segmented into Dermal Fillers, Osteoarthritis, Ophthalmic, and Vesicoureteral Reflux. Based on region, the global Hyaluronic acid market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Hyaluronic Acid Market Analysis by Application
The hyaluronic acid market is segmented into dermal fillers, osteoarthritis, ophthalmic, and vesicoureteral reflux of which the osteoarthritis segment accounted for more than 43% of the global hyaluronic acid market in the year 2021. The market is predicted to increase as the senior population grows and there is a growing preference for minimally invasive procedures. Almost 90% of viscous supplement prescriptions are for the treatment of knee osteoarthritis. Both corticosteroids and hyaluronic acid injections can be used to treat osteoarthritis, according to the Osteoarthritis Research Society International (OARSI), but viscous supplementation is somewhat more effective than corticosteroids.
Global Hyaluronic Acid Market By Application
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Hyaluronic Acid Market Regional Insights
In 2021, North America accounted for more than 43% of the global hyaluronic acid market and is expected to do the same throughout the analysis period. This is owing to the presence of a sizable older population, which is more vulnerable to illnesses like osteoarthritis, vesicoureteral reflux, and cataracts. Furthermore, the increased demand for less invasive aesthetic operations is a crucial element contributing to North America's high share.
The Asia Pacific region is predicted to post the highest CAGR over the forecast period because of rising disposable incomes, rising awareness about the potential applications of minimally invasive techniques, and the presence of large unmet medical needs in emerging economies like South Korea and China. Due to their huge and aging populations, China and Japan are promising markets for anti-aging goods and services. An uptick in demand for hyaluronan can be attributed to the growing public understanding of the many ways it can be put to use. Asians, influenced by Western ideals of beauty, strive for a more full-figured physical presentation. Because of this, the local economy has flourished.
Global Hyaluronic Acid Market By Region
- Largest
- Fastest
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Hyaluronic Acid Market Dynamics
Hyaluronic Acid Market Driver
- The increased number of plastic surgeons and cosmetic clinics contributes to an increase in the number of aesthetic operations performed. The hyaluronic acid industry is being driven by the increasing use of nonsurgical cosmetic procedures such as Botox and hyaluronic acid injectables.
- However, the health benefits of hyaluronic acid, such as moisture retention, faster wound healing, relief from joint pain, prevention of dry eyes and discomfort, and bone strength maintenance, will drive demand even higher. New product launches and increased adoption of business strategies by key market players, such as mergers and acquisitions, are expected to drive growth during the forecast period.
Hyaluronic Acid Market Restraint
- Due to increasing competition and growth in the rising popularity of other skin care compounds like ceramides, vitamin C, and others are major restraints for the hyaluronic acid market. Another difficulty faced by the market is the strict regulation that has been imposed on it, especially in regard to skin and hair care items which could slow the market growth during the analysis period.
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Hyaluronic Acid Market Competitive Landscape
The Hyaluronic acid market is relatively fragmented, with a high level of competition. Few large players, like Allergan Inc., Sanofi S.A., and Anika Therapeutics, Inc., now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability.
Hyaluronic Acid Market Top Player’s Company Profiles
- Allergan plc
- Anika Therapeutics, Inc.
- Ferring Pharmaceuticals
- Galderma S.A.
- Genzyme Corporation
- Hyaltech Ltd.
- LG Life Sciences Ltd.
- Medytox, Inc.
- Merz Pharma GmbH & Co. KGaA
- Salix Pharmaceuticals, Inc.
- Sanofi S.A.
- Seikagaku Corporation
- Shanghai Jingfeng Pharmaceutical Co., Ltd.
- Shiseido Company, Limited
- Sinclair Pharma plc
- Smith & Nephew plc
- Teva Pharmaceutical Industries Ltd.
- Valeant Pharmaceuticals International, Inc.
- Zimmer Biomet Holdings, Inc.
- AstraZeneca
Hyaluronic Acid Market Recent Developments
- In August 2022, Sanofi and Innovent Biologics will offer new cancer treatments to China. Innovent has significant clinical development skills and a large commercial foothold in China. Both firms are dedicated to expediting the development and commercialization of Phase III SAR408701 and Phase II SAR444245, together with sintilimab, the leading checkpoint inhibitor in China.
- In October 2020, Luminera is an Israel-based privately-held aesthetics company with a portfolio and pipeline of dermal filler treatments, and Allergan Aesthetics, an AbbVie subsidiary, just announced an agreement with them. By signing this agreement, Allergan Aesthetics will acquire Luminera's entire dermal filler portfolio and R&D pipeline, strengthening its position as the market leader in dermal fillers alongside the JUVÉDERM® family of products.
Hyaluronic Acid Key Market Trends
- Increasing elderly population and the rising prevalence of obesity are the trends that have been witnessed in recent times that will benefit the hyaluronic acid market. Dermal fillers are the most common nonsurgical injectable procedures, and they are frequently used to fix soft tissue abnormalities on the face. This is according to the American Society of Plastic Surgeons (ASAPS). Dermal fillers made from hyaluronic acid are widely used for cosmetic purposes. These fillers are injected to smooth out wrinkles and creases, treat dark circles under the eyes, smooth out scars, and rejuvenate the skin. All these development is expected to propel the expansion of the hyaluronic acid market and will be bolstered throughout the forecast period.
Hyaluronic Acid Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, increasing disposable incomes, growing knowledge of minimally invasive treatments, and substantial unmet medical needs in emerging nations like South Korea and China are expected to drive hyaluronic acid market growth in the Asia Pacific. China and Japan are prospective anti-aging markets due to their ageing populations. Growing public awareness of hyaluronan's multiple uses has boosted demand and propelled the market growth.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 8.74 billion |
| Market size value in 2031 | USD 16.8 billion |
| Growth Rate | 7.58% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Hyaluronic Acid Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Hyaluronic Acid Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Hyaluronic Acid Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Hyaluronic Acid Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Hyaluronic Acid Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Hyaluronic Acid Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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